SAS Scandinavian Airlines doubles net loss in Q1
SAS has reported a SEK556m (US$61.7m) Q1 net loss for the November to January period, more than doubling the SEK246m loss it posted in the year-ago period. “We are putting a seasonally weak quarter behind us, which, as expected, was worse than the preceding year. The inadequate profitability emphasizes the importance of SAS mobilising to address the cost disadvantages that we have compared with more recently established competitors. Accordingly, we are working on the details of further measures to create long-term competitiveness and profitability,” SAS president and CE Rickard Gustafson said. Revenue for the quarter rose 8.2% to SEK9b while expenses increased 12.7% to SEK9.5b, producing an operating loss of SEK577m, more than triple the SEK186m operating loss in the prior-year quarter. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-03-09/star/sas-scandinavian-airlines-doubles-net-loss-in-q1
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SAS Scandinavian Airlines doubles net loss in Q1
SAS has reported a SEK556m (US$61.7m) Q1 net loss for the November to January period, more than doubling the SEK246m loss it posted in the year-ago period. “We are putting a seasonally weak quarter behind us, which, as expected, was worse than the preceding year. The inadequate profitability emphasizes the importance of SAS mobilising to address the cost disadvantages that we have compared with more recently established competitors. Accordingly, we are working on the details of further measures to create long-term competitiveness and profitability,” SAS president and CE Rickard Gustafson said. Revenue for the quarter rose 8.2% to SEK9b while expenses increased 12.7% to SEK9.5b, producing an operating loss of SEK577m, more than triple the SEK186m operating loss in the prior-year quarter. <br/>
